Font of choice.

I used a drop shadow of vertical 0, horizontal 5, opacity 55, blur 10.

Open a new transparent canvas 700 by 750 pixels and fill white white.

Paste mask 2 and resize 95%.

Paste element 18.

Paste element 121 duplicate, resize the original copy 55%, mirror the
duplicate and resize it 45%, position both and apply the shadow.

Paste the elf tube, resize 10%, position and apply the shadow.

Paste element 59, resize 50% and mirror, position below the tube and apply the
shadow.

Paste element 65, resize 70%, position and apply the shadow.

Paste element 10, resize 60%, position below element 65 and apply the
shadow.

Paste element 106, resize 40% and mirror, position just above the two tree
elements and apply the shadow.

Paste element 132, resize 30%, position and apply the shadow.

Paste element 39 below the tube and resize 55%, select the interior with your
magic wand, expand the selection by 5, make a new layer below it and paste paper
2 into the selection, deselect, apply the shadow to the element and merge it
down onto the paper.

Paste element 12 above the tube, resize 40%, position and apply the
shadow.

Paste element 92, resize 15% and mirror, position and apply the shadow.

Paste element 46, resize 20%, position and apply the shadow.

Paste element 31, resize 10%, position and apply the shadow.

Paste element 76, resize 12% and mirror, position and apply the shadow.

Paste element 120, resize 8%, position and apply the shadow.

Paste element 47, resize 20%, position and apply the shadow.

Paste element 123, resize 18% and mirror,  position and apply the shadow.

Paste element 48, resize 60%, mirror and position.

Paste element 119, resize 15%, position and apply the shadow.

Paste element 23, resize 15%, position and apply the shadow.

Paste element 7, resize 10%, position and apply the shadow.

Paste element 139, resize 40%, position, apply the shadow with the "shadow on
a new layer" box checked and erase the part that runs along the bottom of the
element.

Paste element 114, resize 15%, position and apply the shadow.

Paste element 8, resize 17%, position and apply the shadow.

Paste element 27, resize 5%, position and apply the shadow.

Paste element 14, resize 5%, position and apply the shadow.

Paste element 133, resize 7%, position (bottom of the waterfall) and apply
the shadow.

Paste element 118, resize 10%, position and apply the shadow.

Paste element 137, resize 15%, position and apply the shadow.

Paste element 116, resize 12%, position and apply the shadow.

Paste element 88, resize 5%, position and apply the shadow.

Paste element 79, resize 5%, position and apply the shadow.

Paste element 122, resize 3%, position and apply the shadow.

Paste the boy tube, resize 10%, position and apply the shadow.

Paste element 64, resize 20%, position and apply the shadow.

Paste element 65 again, erase the mound leaving just those four rocks at the
front, resize them 35% and mirror, position and apply the shadow.
Check your
layers and make any adjustments.

Paste element 68, resize 12%, position and apply the shadow.

Paste element 71, resize 12% and mirror, position and apply the shadow.

Paste element 69, resize 12%, position and apply the shadow.

Paste element 18, resize 25% and position.

Paste element 112, resize 10%, position and apply the shadow.

Paste element 113, resize 10%, position and apply the shadow.

Crop your tag now and add your copyright information and text.

ANIMATION:

Open your Freehand selection tool and set it to the values in my screenshot
below.

Go to the waterfall element in your tag and click on it to activate it then
draw a freehand selection around the edge of the water. Don't worry about
getting it exact, the feathering on the selection tool will fade it out at the
edges.

When you have drawn your selection, right click on that waterfall layer in
your layers palette and "promote selection to layer", deselect then duplicate
that promoted selection until you have three copies of it.

Click on the top copy of the promoted selection layer and go to Adjust -
Add/Remove noise - Add  noise and apply with the settings in my screenshot
below.

Close off that top promoted selection layer, open the second one and again
add the noise but change the noise to 13, repeat the above with the final layer
with the noise set at 14.

Right click on your tag and "copy merged" then paste in Animation Shop "as a
new animation.  Back in Paint Shop, close off the open promoted selection layer,
open the next one and repeat pasting in Animation Shop "before current frame",
then do the same with the last copy.  

Run your animated tag through the Optimization Wizard and safe as a gif.